REAL ESTATE - QInvest advises Turkey REIT on $50mn ‘murabaha’ finance facility

www.gulf-times.com - QInvest has advised a Turkey-based Real Estate Investment Trust (REIT) on the latter’s $50mn syndicated ‘murabaha’ finance facility.
QInvest acted as sole book runner and structuring advisor to İş Gayrimenkul Yatırım Ortaklığı (İş REIT), which entered into a financing agreement with a syndicate of banks from the Gulf Cooperation Council (GCC).
The finance facility carries tenure of two years and a profit rate of Libor +250 basis points.  (source)

REAL ESTATE - İş REIT Signs US$ 50 million Syndicated Murabaha Facility

www.qinvest.com -

• 2-year syndicated US Dollar Murabaha facility.
  
• QInvest acting as Sole Bookrunner and Structuring Advisor.
  
• Qatar Islamic Bank acting as Initial Mandated Lead Arranger with Barwa Bank, First Gulf Bank and Mashreq Bank as Mandated Lead Arrangers.

İş Gayrimenkul Yatirim Ortakligi A.S (“İş REIT” or the “Company”) has signed a US$ 50 million Murabaha facility with a syndicate of banks from the GCC. The facility carries a tenor of 2 years and a profit rate of LIBOR +250 bps.

QInvest acted as Sole Bookrunner and Structuring Advisor to İş REIT. Qatar Islamic Bank was the Initial Mandated Lead Arranger and is also acting as the Investment Agent with Barwa Bank, First Gulf Bank, Mashreq Bank taking the Mandate Lead Arranger roles. (source)

CAPITAL MARKETS - Turkey - Factors to Watch on March 12

www.reuters.com - KILER GYO

Kiler GYO, a Turkish real estate investment trust, may issue a sukuk over $100 million in the fourth quarter, Dunya newspaper reported citing parent Kiler Holding chief executive Yunus Nacar. (source)

WORLD - Tunis Financial Harbour signs strategic agreement with Turkish DEMTAS Group

www.bi-me.com - TUNISIA. Tunis Financial Harbour (TFH), the flag ship project of the Bahraini based Islamic investment bank Gulf Finance House (GFH), announced today that it has signed a strategic partnership agreement with DEMTAS Group, a leading Turkish developer, to commence the infrastructure and construction work on the project upon receiving the final approvals from the Tunisian government.

The development’s masterplan has already been approved by the Tunisian Government, and final go ahead on the infrastructure design, which were submitted at an earlier stage, is now pending.(source)

FINANCE - Qatari group to invest at least $500 mln in Turkish tourism industry

A semi-governmental Qatari group is going to build multiple hotels to attract conservative Muslim vacationers in Turkey with a total investment of at least $500 million, the Anatolia news agency reported on Thursday. (source)

FINANCE - Kuwait Finance House to finance international real estate in Jordan and Turkey

AMEINFO.COM - The Local Real Estate Department at Kuwait Finance House (KFH) will take part in the real estate and investment expo organized by Top Expo Group at the Fair Ground from Monday to Saturday. KFH presents its financing services for all kinds of real estate, such as residential, investment, commercial, and industrial for local real estate; in addition to financing real estate in most countries worldwide.(source)

FINANCE - KFH: Liquidized Ijarah real estate fund in Turkey results in 14% capital profit

Talal Al-Nesf 

Kuwait Finance House (KFH) announced that it liquidized a real estate fund in Turkey with a capital profit 14% and total profit that exceeds USD 10 million. The profits of October and November will be distributed among the fund's shareholders by 10% annually, which means that the investor has received total distributions over 6 years that exceeded more than 70%, in addition to the capital; thus highlighting KFH's investment policy that is based on careful planning and close monitoring of market's requirements.

FINANCE - Kuwait Finance House's local real estate portfolio 2 offers 6% annual return (and KFH Turkey Real Estate Fund)

The Private Financial Services Department Manager at Kuwait Finance House (KFH) Talal Al-Nesf announced that KFH's local real estate portfolio 2 achieved high returns that resulted in the distribution of 6 % annual profit.